Morgan Stanley raised the firm’s price target on Palo Alto Networks (PANW) to $216 from $210 and keeps an Overweight rating on the shares as the analyst assumes coverage and names it the Top Pick in the cybersecurity space. Palo Alto, which has evolved from a next-gen firewall provider into “a more comprehensive cybersecurity leader spanning multiple domains,” is well positioned across security silos through its strategic focus on platformization, the analyst tells investors.
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